Small Accident

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yesh9588

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Hello

I had a small accident here near my Apartment. It was a rainy day and the car i was driving skidded and it made into side bumper of another car. I didnt have insurance(it was my friends car). I talked with the other person and i made sure that i am paying for whatever damage that was made.

They gave me a quote and i am ready to pay off the quote. I have the cash in hand. I am planning to give it to the car owner. My Questions are as follows.

1. Should i get a written letter from him when i give the money.?
2. Does his insurance has any say or any way to sue me?

I am paying off for the whole damage. Pls advice.
 
Not so fast, slow down

It would be wise to get him to sign a receipt for the cash.

It would also be wise of you to author a release of all liability letter.

You can Google the term and find some templates and examples online.

You then need to customize the terminology to fit your situation.

Before you pay one dime, make sure he signs both documents. He gets a copy, and you keep a copy.

But, crooked people will often claim medical injuries or other damage later.

You'd also be smart to take lots of pictures of both cars!

Yours and his!!!

Save them.

You might also want to check and see if your state requires all accidents to be reported. Many states have such a requirement.
 
Hello

Thanks a lot for your kind reply. I have another question. Would his insurance company come after me. Or does his insurance company can have any legal effect on me.?

Thanks
 
What you're doing can end up costing you a great deal of money.

I never suggest people to do it your way.

It is better to go through your insurance carrier.

In your case, your friend's insurance company should have been involved.

He gave you permission to drive the car.

His insurance should be brokering any settlement.

You're risking a lot to save a little.

That isn't smart.

Will your victim's insurance come after you?

No one can answer that.

I've seen it done.
 
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